About Party Round

Founder Terms

Version 1.0
Last revised on: November 16, 2021

This Founder Supplement to the Website Terms of Service (“Founder Terms”) constitute an agreement between you (the “Founder” as defined in the Party Round Terms of Use which can be found here) and Party Round, Inc. (“Party Round,” “Company,” “us,” “our,” and “we”). This agreement supplements both the Website Terms of Service and the Privacy Policy which are incorporated by reference in its entirety. The Privacy Policy can be found here. Your creation of a Founder Profile constitutes your agreement to these Founder Terms. You agree and acknowledge that Party Round has sole discretion regarding acceptance of your application to become a Founder.

1. Creating a Profile. Founders may use the Fundraising Service to send documents to prospective investors, collect signatures, and receive funds. Prospective Founders must create a Company Profile in order to use the Fundraising Services. Founders must provide the company name including the legal name, EIN, company address, website URL, and description in order to complete their profile. You acknowledge and agree that Party Round may delete your Company Profile at any time. You may also choose to upload a profile picture that will be linked to your Company Profile.

2. Company Profile. You are responsible for keeping your account log in and password details secret. By providing us with your e-mail address and phone number, you agree to receive all notices from us electronically. You must update your Company Profile if you change your e-mail address or your phone number. If you lose your login or password, or you believe someone has accessed your Company Profile without your permission, notify us immediately at support@partyround.com.

3. Using the Fundraising Services. Your right to access and use the Fundraising Services is personal to you, and you may not allow anyone else to access your Company Profile. You may only use the Fundraising Services for lawful purposes. For the Fundraising Services to function effectively, you must provide true, accurate, current and complete information about your company’s bank accounts. You also represent to us that you or your company is the legal owner of each of the bank accounts that you connect to your Company Profile.

4. Investment Decks. Founders are allowed to upload information about your business plan, including information you consider confidential via the App, and to designate and invite Investors with whom you have pre-existing, substantive relationships to view such information. We cannot, however, guarantee that Investors with whom you share your information will not separately disseminate that information in an unauthorized manner. We also cannot guarantee that there will never be a software bug or a hacker attack that allows unauthorized viewing and dissemination of your information.

5. Representations. You make the following representations:

a) That you will only provide Party Round with content that you have a right to provide to and to allow Party Round to display through the Fundraising Services; b) That you have adequate rights to all copyrights, trademarks, trade secrets, intellectual property or other material provided by you for display, publication or use by Party Round; c) That you will not use Party Round to market services, particularly investment advisory services that might cause Party Round to have to register as a broker dealer or investment adviser with the Securities Exchange Commission, or to be treated as an underwriter; d) That you are aware of your obligations under state and federal securities laws relating to the offer and sale of securities and have consulted with a securities attorney about your obligations under such laws before proceeding with the use of the Party Round Website or App as a Founder; e) That you will only invite Investors with whom you have a pre-existing, substantive relationship to view and potentially invest in your Round and that broadly disseminating any invitations to view company information on Party Round relating to a contemplated capital raise may impact your ability to comply with securities laws requirements; and f) That you will obtain such professional advice as is appropriate to protect your interests, including legal, tax, financial, accounting and other advice (e.g., get a good startup and/or securities attorney).

6. Payment Methods. We accept payments for Party Round fees and associated bank fees via Automated Clearing House (“ACH”) debit and wire transfers from your preferred bank account (“Payment Method”). By creating a Company Profile and linking your Payment Method, you authorize us to charge your Payment Method to pay for any of Party Round fees or associated bank fees.

7. Connected Bank Accounts.

a) When you connect your bank accounts (“Connected Account”) to your Company Profile, you will authorize one of our third-party service providers (“Service Providers”), such as Plaid, to use your credentials to retrieve account statement information (“Connected Account Data”). For your security, we never see or store your bank account or bank account login information. You hereby grant us and our Service Providers a limited power of attorney, and you hereby appoint us and our Service Providers as your true and lawful attorney-in-fact and agent, with full power of substitution and re-substitution, for you and in your name, place and stead, in any and all capacities, to access connected bank accounts and documents, retrieve Connected Account Data, and use your Connected Account Data with the full power and authority to do and perform each and every act and thing requisite and necessary to be done in connection with such activities, to the same extent and for the same purposes as you might or could do in person. YOU ACKNOWLEDGE AND AGREE THAT WHEN WE OR ONE OF OUR SERVICE PROVIDERS ACCESSES AND RETRIEVES CONNECTED ACCOUNT DATA, WE AND OUR SERVICE PROVIDERS ARE ACTING AS YOUR AGENT, AND NOT AS THE AGENT OF, OR ON BEHALF OF THE CONNECTED BANK ACCOUNT PROVIDER. b) Party Round is not responsible for the products and services provided to you by any Connected Account provider, or for the timeliness, accuracy, deletion, non-delivery or failure to store any account data, communications, personalization settings, or other information provided to us. For example, when displayed through the App, Connected Account Data is only as fresh as the time shown, which reflects when the information is obtained from the Connected Account. Such information may be more up-to-date when obtained directly from the Connected Account provider. We do not review or verify any Connected Account Data we receive, and we are not responsible for any losses, damages, or costs you incur due to any inaccuracies in Connected Account Data. We also may not be able to foresee or prevent technical difficulties that result in failure to obtain, or for loss of Connected Account Data, your personalization settings or other service interruptions.

8. Your Authorization for ACH Debits and Credits

You authorize us to electronically debit and credit your Payment Method via ACH (when and as applicable) to:

  • Pay any associated ACH or wire transfer fees imposed by your Connected Account provider;
  • Correct erroneous debits and credits or make refunds to your Payment Method; and
  • Receive payments from Investors.

You also agree:

  • to cooperate with us to correct any payment errors;
  • to repay us for any amounts credited to your Payment Method that exceed the amount you are owed in connection with a credit, refund or other payment;
  • that we may reverse, withdraw or cancel any payment that provided you with excess funds in error, or that we made to you based on fraudulent or false information that you provided us;
  • that we may automatically initiate a new payment from your Payment Method in the amount of the error plus the amount of any expenses we incur to recover such overpayment, including the amount of your obligations, if any, under the “Indemnity” provision in Section 6 of the Party Round Terms of Use.

Payment Errors

If you think any of the payments in your Company Profile are incorrect or if you need more information about a payment shown in your Company Profile, email us at support@partyround.com, as soon as possible. We must hear from you no later than 90 days after the date on which the problem or error appeared on our App.

  • Tell us your name and email address.
  • Describe the error or the payment you are unsure about, and explain as clearly as you can why you believe it is an error or why you need more information.
  • Tell us the dollar amount of the suspected error.

Unauthorized Payments

Please contact us immediately by emailing us at support@partyround.com as soon as possible if:

  • YOU BELIEVE THAT YOUR PASSWORD HAS BEEN STOLEN.
  • THE MOBILE DEVICE THAT YOU USED TO REGISTER FOR A COMPANY PROFILE HAS BEEN LOST OR STOLEN. (FOR YOUR PROTECTION, WE RECOMMEND THAT YOU MAKE SURE YOU HAVE ENABLED A PASSWORD, FINGERPRINT OR FACIAL RECOGNITION ON YOUR MOBILE DEVICE.)
  • YOU BELIEVE THAT A PAYMENT HAS BEEN MADE FROM YOUR PAYMENT METHOD WITHOUT YOUR PERMISSION.
  • AN UNAUTHORIZED PERSON HAS DISCOVERED YOUR COMPANY PROFILE PASSWORD AND MAY TRANSFER MONEY FROM YOUR CONNECTED ACCOUNT WITHOUT YOUR PERMISSION.
  • YOU NEED MORE INFORMATION ABOUT A PAYMENT USING PARTY ROUND.

IF YOU BELIEVE THAT SOMEONE USED THE INFORMATION IN YOUR COMPANY PROFILE TO MAKE AN UNAUTHORIZED WITHDRAWAL FROM YOUR CONNECTED ACCOUNT, OR IF YOUR COMPANY PROFILE RECORDS CONTAIN A PAYMENT ERROR, CONTACT YOUR BANK IN ADDITION TO US. FAILURE TO NOTIFY YOUR BANK DIRECTLY AND PROMPTLY MIGHT LIMIT YOUR RIGHTS UNDER YOUR ACCOUNT AGREEMENT AND APPLICABLE LAW.

9. Indemnification. You are promising to hold the Party Round harmless against any damage that may happen to us as a result of your use of Party Round. You agree to indemnify and hold the Party Round harmless (including against costs and attorneys’ fees) from any liabilities, losses, damages, costs and expenses (including attorneys’ fees and expert fees) arising from or related to any claim or demand made by any third party due to or arising out of your access to or use of the Fundraising Services, the violation of the Terms by you, the infringement or misappropriation by you, or any third party using your account, of any intellectual property or other right of any person or entity, or for any content posted through the Fundraising Services by you (including claims related to defamation, invasion of privacy or other violation of a person’s rights). Your obligations under the foregoing indemnity may not be offset against any other claim you may have against Party Round. You remain solely responsible for all content that you upload, post, email, transmit, or otherwise disseminate using, or in connection with, the Fundraising Services. You agree that the provisions in this paragraph will survive any termination of your account(s) or the Fundraising Services.

10. Termination. Subject to Section 12 of the Party Round Terms of Use, the Founder Terms will remain in full force and effect while your Company Profile is active.